Bart-
Not having played all of the best modern courses in the world, my personal list has Pacific Dunes at #3, Sand Hills at #4, and Ballyneal at #5. These are all separated by a hair's breath.
The great holes at Ballyneal (1, 3, 7, 8, 12, and 16) are slightly outpaced by the great holes at Sand Hills (1, 3, 4, 7, 8, 11, 14, 15, 17, and 18) and Pacific Dunes (2, 3, 4, 6, 11, 13, 16, and 17).
The beauty of each is mostly comparable, except when you throw in the ocean at Pacific Dunes.
The conditioning of each is more of less equal.
Sand Hills also gets bonus points for starting the movement.
None of this is meant as a slight to Ballyneal. It might be the best of the 21st century. It's just not the best modern design on the planet.